Convex oETH/ETH Vault - Origin Yield-Bearing ETH

What is oETH/ETH Convex Deposit?

This vault optimizes yields for the Curve oETH/ETH pool through Convex Finance. oETH is Origin Protocol's yield-bearing ETH token, designed to automatically compound staking rewards and DeFi yields without requiring user action.

Understanding oETH and Origin Protocol

Origin's yield-optimizing approach:

Auto-Compounding: Yields automatically compound daily
Rebasing Token: oETH supply increases with rewards
Diversified Strategy: Multiple yield sources (staking, DeFi)
User-Friendly: Hold oETH, earn automatically

oETH simplifies yield farming into a single token.

How oETH Works

Origin's mechanism:

Deposit ETH (or LSDs) to receive oETH
Origin deploys to optimal strategies
Yields compound through rebasing
1 oETH always equals underlying value

How This Vault Works

Provide oETH and/or ETH to Curve pool
Stake LP tokens in Convex vault
Convex applies veCRV boost
Earn oETH yields + CRV + CVX

Yield Sources: oETH auto-compounding yield, Curve trading fees, boosted CRV emissions, CVX incentives.

Fee Structure

Convex standard fees:

16% of CRV rewards
No deposit/withdrawal fees

Origin takes a performance fee on strategy yields.

oETH in LP Context

Rebasing behavior in LPs:

oETH rebasing affects LP composition
Pool automatically rebalances
LPs capture underlying yields
May create impermanent "gain" dynamics

cvxCRV and Convex Integration

The Convex boost system:

Aggregated veCRV for all depositors
cvxCRV stakers enable the infrastructure
vlCVX governance directs emissions
Sustainable yield model

Risk Disclosures

Smart Contract Risk: Exposure to Curve, Convex, Origin Protocol, and all underlying strategy contracts. Strategy Risk: oETH deploys to multiple DeFi strategies. Individual strategy failures could affect returns. Rebasing Complexity: Rebasing tokens in LPs create accounting complexity and potential edge cases. Origin Protocol Risk: Protocol's strategy execution affects oETH yields. Depeg Risk: oETH may trade off-peg if confidence in Origin declines. Governance Risk: Origin governance controls strategy allocations and parameters. Multi-Protocol Risk: oETH strategies may involve multiple DeFi protocols with compounding risks.

oETH/ETH Convex Deposit